InvestingScope

GBPNZD: Sideways opportunity for the next 5 months.

FX_IDC:GBPNZD   British Pound / New Zealand Dollar
GBPNZD followed the direction set on our November call and pull back to the symmetrical (black dashed line) support:


As mentioned then, this is repeating the late 2017/ early 2018 pattern. Since the uptrend was rejected on the 2.04750 1M Resistance and the price pulled back, with 1D turning neutral ( RSI = 55.295, ADX = 26.734, Highs/Lows = 0.0000), we are expecting sideways price action for the next 5 months within the 1M Resistance (2.04750) and the MA200 (orange line) on the 1D chart.




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